WAICA reiterates commitment to change climatic effect

By Asishana John

WAICA Reinsurance Corporation has expressed its commitment to offer practical solutions to solve problems of climatic change in West Africa.

It said in a statement that this was imperative following climatic change that had led to frequent natural and man-made disasters, such as flooding, drought and deforestation, across Africa.

WAICA Re said it would sponsor a competition on an annual basis that would require people to provide practical solutions to ending this disaster on the continent, and fund the winning project.

At the African Insurance Organisation conference in Lagos, Ejike Nwankwo won the 2021 WAICA Re Champions Award with his entry on how to manage plastic waste to prevent flooding, and the corporation promised to finance the initiative with $100,000.

He also went home with $5,000. Uduakobong Inyang won $3,000 as first runner-up, while $2,000 went to Chinwe Umeobi of African Alliance Insurance Plc as the second runner-up.

The Group Chief Operating Officer, WAICA Re, Dr Abiba Zakariah, said the corporation came up with the initiative as part of its corporate social responsibility to end drought, flood and deforestation across Africa, especially in the West African region.

She said the projects proffered practical solutions that could be replicated across Africa, and that WAICA Re was ready to continue to support such initiative with $100,000 annually.

According to her, this is to ensure that Africans see themselves as solutions to African problems.

She disclosed that the winner of the competition would become WAICA Re’s goodwill ambassador for a year, and the reinsurance firm would support the winning project with $100,000, while such ambassador would get a cash reward of $5,000.

The immediate past Secretary-General, AIO, Prisca Soares, said the devastating effects of natural disasters, which might also be linked to climate change in most countries on the continent, was better imagined.